Crude Oil price rose for the fourth consecutive day on Tuesday that provides hope that we could see a long overdue mean-reversion move. The fourth consecutive daily rise in price would be the first in a month, and traders will look to inventory data on Wednesday from the EIA for validation that draws are persisting despite the rise in supply. On Friday, traders were met with the 23rd week of an increase in activated oil rigs in the US per Baker Hughes International, but the sellers did not control ...
New orders for U.S. manufactured durable goods fell by more than expected in the month of May, according to a report released by the Commerce Department on Monday. more...
For those intraday traders, we can pinpoint the pattern a little further. A shorter term key level to watch for is the June 13 low of .7524. Holding above this low keeps new highs towards .7640 vulnerable. A break below this level puts bulls on ice while support may form above .7329. more...
Dollar/yen dipped had a strong start to the week but petered out later on. The pair has been sliding as enthusiasm from the Fed’s hawkishness was replaced by skepticism. The upcoming week begins with a strong start from durable goods orders, continues with the CB consumer confidence and culminates with the final read of US GDP. It is also important to watch out for the Core PCE Price Index, the Fed’s favorite measure of inflation.In ...
EUR/USD was under pressure as the dollar enjoyed some gains. Has the pair turned down? The last week of June features an important German survey and key inflation data. German Ifo Business Climate: Monday, 8:00.French CPI: Tuesday, 6:45.French Consumer Spending: Wednesday, 6:45.Monetary data: Wednesday, 8:00.Italian CPI: Wednesday, 9:00.German GfK Consumer Climate: Thursday, 6:00.Spanish CPI: Thursday, 7:00.German ...
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